FUNDING FOR FREMANTLE KINGS SQUARE PROJECT

First State Super, Sirona Capital and Altis Property Partners announced they have signed a $190m funding package agreement, comprising construction and term debt, for the Kings Square Fremantle redevelopment.

Kings Square Fremantle is underwritten by a 15-year lease to the WA State Government for 20,000sqm over five levels and across two buildings to accommodate some functions of the Department of Communities, mainly Housing.

The project also includes the introduction of FOMO (Fremantle on My Own), a new urban retail, food and dining destination in a concept which is authentically Fremantle, and the full refurbishment of the 830 bay multi-deck Queensgate car park.

Sirona Capital managing director Matthew McNeilly said he was excited to have First State Super on board as a funding partner for the transformational Kings Square Fremantle project. “What sets this project apart from others is that we have actively sought to conceptualise, plan and deliver it in ways that reset traditional thinking for projects of this type, size and scale,”